Automotive Components, Textile, Renewable Energy...Promising Chances

 IDA Chairman, stated that Polaris, the Turkish industrial zone in 6th of October City, is considered one of the most successful examples for the positive cooperation between Egypt and Turkey. The zone covers an area of 2 million m2 and managed to market more than 40 industrial projects within 18 months. The free trade agreement between Egypt and Turkey contributed in enhancing the trade volume between the two countries; as currently there are 150 Turkish companies in the fields of automotive and textile industries…etc, IDA Chairman pointed out.

This came during the Egyptian – Turkish Business Forum, which was hosted by the Egyptian businessmen Association, on Monday, 25/10/2010. The Forum was attended by the Turkish ambassador, Eng. Hussein Abdel Sabour, the Association Chairman, and other competent authorities.

IDA Chairman confirmed in his speech on the behalf of Eng. Ashraf Dewidar, Vice Chairman of Internal Trade Development Authority, that the Ministry of Trade and Industry nowadays focuses on the ppp projects concerning the industrial and the logistics zones. Moreover, he indicated that 30 industrial developer contracts were signed for local and international companies during 3 years from the date of launching the program. In addition, he displayed the available investment opportunities between the two countries via using Egypt as exporting industrial base especially in the fields of textile and automotive components, pointing that there are new fields for cooperation such as, the wind and the solar energies and the industries based on them.

Furthermore, IDA Chairman alluded to one of the biggest promising industrial zones in Egypt, at Fayoum Governorate. The zone covers an area of 10 million m2, and will be offered in the beginning of 2011 with the general developer system.

The Turkish Ambassador in Egypt, Hussein Aony, expected that the Egyptian – Turkish trade exchange volume will reach $5 billion in the coming period compared to $3.2 billion nowadays.

Dr. Adel Lamae, Chairman of the Egyptian – Turkish business Council, referred to the council's demand of activating a ship line between the two countries, and initiating a mutual cooperation between the Naval Academy in Egypt and the Naval Academy in Turkey. He also confirmed on the necessity of transferring the Turkish ship industry expertise to Egypt, as Turkey has 95 naval arsenals.